Vietnam revises anti-dumping fees on steel imports

The Ministry of Industry and Trade has decided to raise anti-dumping tax rates on steel imports from China and Indonesia, reduce the rate on Malaysian products while keeping it the same for Taiwanese steel after its first review this year.

The new anti-dumping tariffs will be effective from May 14, 2016 to October 6, 2019.

The anti-dumping duty on Chinese stainless steel will increase from 4.64 percent to 17.47 percent. The rate for Indonesian products will go up by nearly 10 percent to 13.03 percent. Malaysian stainless steel will be face a 9.55 percent anti-dumping duty, down 1.16 percent, while the rate for Taiwanese products remains unchanged at 13.79 percent.

Source: Ministry of Industry and Trade

The ministry added that the above rates as well as the effective period could be adjusted before the next review.

Previously, the ministry imposed temporary tariff increases on steel imports, with a 23.3 percent duty imposed on steel billet and 14.2 percent on steel bars, effective from March 22 to October 7.